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Moneylife Digital Team 18 August 2021
In a path-breaking judgement the Gondia District Consumer Disputes Redressal Commission has directed the State Bank of India (SBI) to reverse the disputed transaction of Rs18.36 lakh into the customer's bank account.   The Commission even directed SBI to recover the money from the...

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Moneylife Digital Team 11 August 2021
Indian banking customers are being targeted by a new type of phishing attack using the ngrok platform (a web service provider). The malicious actors have abused the ngrok platform to host phishing websites impersonating internet banking portals of Indian banks. Using these phishing websites,...

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Rajendra H Gill 07 August 2021
The Reserve Bank of India (RBI) has done it again.   The public auction, yesterday, of the new benchmark 10-year GSec (6.10% GS2031) witnessed decent investor participation with a bid-cover ratio of 1.60. However, RBI rejected ALL bonafide bids for Rs14,000 crore on offer for this...

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To safeguard the interest of its customers, the State Bank of India (SBI) has launched a new security feature -- SIM Binding in YONO and YONO Lite.   The new version of these platforms will protect customers from various digital frauds. With the SIM Binding feature, YONO and YONO Lite...

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Moneylife Digital Team 16 July 2021
India’s largest state-run lender State Bank of India (SBI) has issued a warning about ‘phishing links’ to its customers. SBI has alerted its customers not to click on links containing ‘gift from the national bank’ and ‘freebies’ if received on their mobile number or email ID. SBI disclosed...

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In fresh trouble for the State Bank of India (SBI), hackers of Chinese origin are targeting bank users with phishing scams, asking them to update their KYC using a particular website link and offering free gifts worth Rs 50 lakh from the bank via a WhatsApp message, cybersecurity researchers...

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Moneylife Digital Team 06 July 2021
Close on the heels of revised charges from State Bank of India (SBI), private sector lender ICICI Bank is now rolling out revised limits of cash transactions, ATM interchange and cheque book charges for its savings account holders from next month onwards.    ICICI Bank's portal has...

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Moneylife Digital Team 06 July 2021
The central information commission (CIC) has stayed the order of the first appellate authority (FAA) of the Reserve Bank of India (RBI) for the release of information on non-performing assets (NPAs) and top defaulters of the Saraswat Co-operative Bank Limited. This is the first time a stay...

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The Reserve Bank of India (RBI) has amended the norms as per which unclaimed maturity proceeds of term deposits (TDs) with banks will attract the rate of interest as applicable to savings accounts or the contracted rate of interest on the matured TD, whichever is lower.   As per the...

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The State Bank of India (SBI) has increased the cash withdrawal limits through cheques and withdrawal forms for its customers at non-home branches.   "To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form,"...

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Moneylife Digital Team 30 April 2021
State Bank of India (SBI) has warned its customers about falling for the quick response (QR) code scams - an active prevalent fraud practice in online money transfer transactions.   The country’s largest public lender has asked its customers not to scan any QR code shared by anyone...

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Sponsored Post 28 April 2021
What is a Neo-bank? Neo-banks are fintech companies providing 100% digital, cutting-edge banking services. They have done away with physical branches by moving all their services online and crafting digital banking solutions. The lack of physical branches helps neo-banks save on their...

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Moneylife Digital Team 22 April 2021
The country’s largest lender, State Bank of India (SBI) has warned people about fraudsters, who are posing as staff of SBI Loan Finance Ltd and offering loans only to defraud them.    SBI has issued an alert on Twitter, stating that it is not associated with any such organisations and...

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From Thursday until May 15, banks in Uttar Pradesh will be open for customers for only four hours on working days.   The banks will be open from 10 a.m. to 2 p.m.   A decision to this effect was taken in view of the surge in Covid cases at a meeting of the State Level Bankers...

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Moneylife Digital Team 12 April 2021
State Bank of India (SBI) has issued a new alert for its customer-depositors about a new fraud taking place under the guise of SBI fixed deposits (FDs).    SBI says it has come across recent reports, where cyber criminals have created online fixed deposits in customers' accounts to...

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Cybercriminals are now using new and advanced techniques to attack mobile-based banking and the geography of attacks has become more diversified and extensive -- especially from a mobile financial malware perspective, a new report said on Sunday.   According to global cybersecurity...

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Housing Development Finance Corporation Ltd (HDFC) has increased interest rates of its various fixed deposit products with different maturities by up to 25 basis points (bps).   The change came into effect on March 30.   The housing finance major is offering an annual interest...

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The Reserve Bank of India (RBI) on Friday extended the restrictions on the withdrawal and deposits in the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank till June 30.   The Maharashtra-based cooperative bank was placed under restrictions with effect from close of business on...

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Banking consumers may face difficulties in getting services from March 27 to April 4 as all banks in the country will largely stay closed or offer curtailed services as the institutions switch to the new financial year. However, customers do not have to worry as ATMs, mobile banking and...

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IANS 25 February 2021
Strongly opposing Prime Minister Narendra Modi's plans to privatise all public sector banks (PSBs), the Unted Forum of Banking Unions on Thursday said that it could imperil Rs 80 lakh crore hard-earned money belonging to the people.   UFBU Convenor Devidas Tuljapurkar said that the...

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